Post by maxi on Mar 30, 2011 20:12:11 GMT -5
They came out with a news blurb right at the end of a/h's Now the Chinese gov't wants documents too. I guess I will get to buy more after all.
BUSINESSMARCH 30, 2011, 8:17 P.M. ET
Sands China Faces Hong Kong Probe
By KATE O'KEEFFE
HONG KONG—Las Vegas Sands Corp. unit Sands China Ltd. said Thursday it is being investigated by Hong Kong's securities regulator for alleged breaches of provisions of the Securities and Futures Ordinance.
The company said in a statement to the Hong Kong stock exchange that the Securities and Futures Commission has asked the company to produce "certain documents," and it "is not permitted to comment further at this time."
Las Vegas Sands said in its annual report filed this month that it had received a subpoena from the U.S. Securities and Exchange Commission requesting the company produce documents related to its compliance with the Foreign Corrupt Practices Act and that the U.S. Justice Department "is conducting a similar investigation." The law prohibits U.S. companies from making payments to foreign officials to get or keep business.
The U.S. gambling giant said it believed the subpoena stemmed from allegations in a wrongful-termination lawsuit filed in October against the company by its former head of Macau operations, Steve Jacobs. The Nevada Gaming Control Board said it has also initiated an investigation into the same matter.
Write to Kate O'Keeffe at kathryn.okeeffe@dowjones.co
BUSINESSMARCH 30, 2011, 8:17 P.M. ET
Sands China Faces Hong Kong Probe
By KATE O'KEEFFE
HONG KONG—Las Vegas Sands Corp. unit Sands China Ltd. said Thursday it is being investigated by Hong Kong's securities regulator for alleged breaches of provisions of the Securities and Futures Ordinance.
The company said in a statement to the Hong Kong stock exchange that the Securities and Futures Commission has asked the company to produce "certain documents," and it "is not permitted to comment further at this time."
Las Vegas Sands said in its annual report filed this month that it had received a subpoena from the U.S. Securities and Exchange Commission requesting the company produce documents related to its compliance with the Foreign Corrupt Practices Act and that the U.S. Justice Department "is conducting a similar investigation." The law prohibits U.S. companies from making payments to foreign officials to get or keep business.
The U.S. gambling giant said it believed the subpoena stemmed from allegations in a wrongful-termination lawsuit filed in October against the company by its former head of Macau operations, Steve Jacobs. The Nevada Gaming Control Board said it has also initiated an investigation into the same matter.
Write to Kate O'Keeffe at kathryn.okeeffe@dowjones.co
